Investing.com -- Eletrobras, the Brazilian electric company, has engaged the services of investment bank BTG Pactual to guide the sale of its residual stake in Eletronuclear, the state-run nuclear power generator, according to Reuters, citing three sources close to the transaction.

Eletrobras, which was privatized in 2022, is no longer the dominant owner of Eletronuclear, although it still holds minority ownership with 36% of voting shares and 68% of the total capital.

The planned sale is a component of a wider agreement that was reached last month. This agreement enhances the government’s representation on the Eletrobras board and enables the utility firm to diminish its involvement in nuclear businesses.

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